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Summary

BlackRock has chosen Coinbase as a crucial infrastructure provider for its newly launched tokenized investment fund, BUIDL.

Introduction

On March 20th, BlackRock introduced its first tokenized investment fund, BUIDL, and Coinbase, a prominent crypto exchange, has been designated as a key infrastructure provider for this innovative fund.

Main Points

BlackRock revealed the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) in collaboration with Securitize Markets. The fund, issued on a public blockchain, offers investors the opportunity to earn U.S. dollar yields through blockchain subscriptions.

The BUIDL fund focuses on investing in cash, U.S. Treasury bills, and repurchase agreements, ensuring a stable value of $1 per token and distributing daily accrued dividends directly to investors’ wallets.

Coinbase not only provides infrastructure services but also offers custody for BlackRock’s bitcoin holdings in the Ishares Bitcoin Trust (IBIT), positioning itself as a significant partner in BlackRock’s digital asset ventures.

BlackRock’s application to the Securities and Exchange Commission (SEC) for the Ishares Ethereum Trust underscores the asset manager’s commitment to integrating digital assets into its investment offerings.

Conclusion

The collaboration between BlackRock and Coinbase signifies a strategic move towards incorporating digital assets into traditional investment strategies, showcasing the growing intersection of traditional finance and the blockchain ecosystem.

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